This one-day seminar for tax professionals, presented by The Bonadio
Group CPA firm, will help you understand and apply the new federal and
state tax legislation. We will be at the RIT Inn & Conference Center
in Henrietta, N.Y.We will start in the morning with breakfast and
general sessions, including a presentation by Lekecia Foster, director
of Congressional and Political Affairs for the American Institute of
Certified Public Accountants, who will provide timely insights on tax
reform in Washington, D.C., and Michael Schmidt, senior economic
advisor to New York Gov. Andrew Cuomo, who provide highlights on the
Governor’s tax agenda.
Our luncheon session will feature a panel discussion led by Tom
Bonadio, CEO of The Bonadio Group, on Doing Business in New York
State, and we are offering two afternoon breakout sessions with a
selection of six topics:
*
How to analyze the most tax-efficient entity structure
*
Application of the interest expense limitation rules and the qualified
business income deduction (199A) for pass-through entities
*
Maximizing cost recovery
*
International application of the transition tax and GILTI
*
An overview of state responses to federal tax reform
*
Tax and estate planning for high-net-worth individuals
To wind things up, we invite you to enjoy beverages and hors
d’oeuvres with your colleagues and new friends.
_Seating is limited. Please register as soon as possible to reserve
your space._
DISCOUNTED HOTEL ROOMS ARE AVAILABLE FOR CONFERENCE REGISTRANTS. TO
BOOK A ROOM, PLEASE CONTACT THE RIT INN AND CONFERENCE
CENTER DIRECTLY AT 585.359.1800.
-------------------------
CPE INFORMATION_
8 Continuing Professional Education (CPE) credits will be granted for
attendance (7 in taxes and 1 in specialized knowledge)
PROGRAM LEVEL: Intermediate
INSTRUCTIONAL DELIVERY METHOD: Group live
PREREQUISITES: At least two years experience in financial or tax
accounting experience.
AFTER THIS COURSE YOU WILL HAVE A BASIC UNDERSTANDING OF:
Plenary Session I: After this session, participants will be able to
better understand:_
* How the AICPA works with businesses and lobbies on their behalf
with the federal government
* Identification of topics Congress is focusing on for technical
corrections and clarification regarding the tax reform bill
* How the political climate, including mid-term election results,
may affect the tax legislation going forward
_Plenary Session II: After this session, participants will be able to
better understand:_
* Participants will have a better understanding of the current
update NY market
_Lunch Session: After this session, participants will be able to
better understand:_
* The investment climate in Upstate New York
* The obstacles that businesses are facing in Upstate New York
_Maximizing Cost Recovery: After this session, participants will be
able to better understand:_
* How to apply the new depreciation rules in 2018 and future
purchases
* Understanding the difference between bonus and 179 application
rules
* How the new depreciation rules may affect future acquisitions
_Application of Pass-Through Deduction and the Interest Expense
Limitation Rules: After this session, participants will be able to
better understand:_
* Basic calculation of 199A and the wage and qualified property
limitations
* How losses from a flow-through entity will affect the 199A
deduction at the individual level
* Discussion areas surrounding 199A, including specified service
trade or businesses and the definition of wages
* Basic calculation of 163(j) and the exceptions for a real property
trade or business and certain small businesses
* How the tax shelter rules may disallow entities from the use of
the small business exception
* Discussion surrounding double counting and the use of excess
taxable income limitation under 163(j)
_How to Analyze the Tax Efficiency of Your Entity Structure (C
Corporation, S Corporation, Partnership, etc.): After this session,
participants will be able to better understand:_
* The major factors that will impact a decision for changing from a
flow-through entity structure to a C Corporation, including the need
for regular and consistent distributions and state income tax
* The impact of entity structure changes and an exit strategy,
including the potential use of a IRC 1202 company and changes to the
use of AAA accounts after a voluntary termination
* Examples of high-level analysis for measuring the tax impact of
changing entity structures
_Overview of State Responses to Federal Tax Reform, an Update
regarding the E-commerce Debate, and Other State Topics: After this
session, participants will be able to better understand:_
* How California, Texas, and various New England States are
addressing the federal tax reform bill at the local level
* Be provided an UPDATE REGARDING THE _South Dakota vs.
Wayfair_ case that may determine the future of the Quill physical
presence nexus requirement for sales and use tax collection purposes
_Understanding the International Tax Implications of Federal Tax
Reform (focusing on the Transition Tax and GILTI) and the Financial
Reporting Implications.: After this session, participants will be able
to better understand: _
* Discussion regarding the transition to a territorial taxation
system
* Basic calculation of the Transition Tax, with examples
* The proper reporting of the transition tax on the 2017 tax forms,
including individuals, S corporation, Partnerships, and C Corporations
* Basic calculation of the global intangible low-taxed income
(“GILTI”) with examples
_High Net Worth Individual Tax and Estate Planning: After this
session, participants will be able to better understand: _
* How changes in the income tax law affect high net worth
individuals, including significant changes to itemized deductions and
elimination of the phase-out, increased AMT threshold and exemption
amounts, as well as business loss limitation rules
* Estate planning under the new gift and estate tax framework with
particular focus on NYS residents
* Charitable planning options
_COMPLAINT POLICY— For each program, Bonadio & Co., LLP will
provide the contact information for the presenters and reviewers and
communicate all questions, concerns, or complaints be directed here.
Bonadio & Co., LLP will reply to all such communications in a timely
fashion. For more information regarding administrative policies such
as complaints, please contact our Professional Excellence Division at
(585) 249-2762.
REFUND/ CANCELATION POLICY— If a program must be canceled, Bonadio
will notify all registered participants as soon as cancellation is
known by emailing the address registered. Bonadio will also put a
notice of cancellation on its website for courses offered to outside
participants. If the program is canceled, a full refund will be
issued. If a participant cancels within a reasonable amount of time
before a program (more than 24 hours) prior to the published
registration deadline for the event, a full refund will be issued.
NASBA STATEMENT— Bonadio & Co., LLP is registered with the National
Association of State Boards of Accountancy (NASBA) as a sponsor of
continuing education on the National Registry of CPE Sponsors. State
boards of accountancy have final authority on the acceptance of
individual courses for CPE. Complaints regarding registered sponsors
may be submitted to the National Registry of CPE Sponsors through its
website: www.nasbaregistry.org [http://www.nasbaregistry.org/].
Bonadio & Co., LLP – NASBA Sponsor # 112853
_
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21/06/2018 Last update